FLEXIBLE SOLUTIONS INTERNATIONAL INC

Listed Company

FSICIK 0001069394NYSENon-AcceleratedSmaller ReportingMiscellaneous Chemical ProductsNevadaFY ends Dec 31

Period

FY 2025

Revenue

$38.52M

Net Income

$786.9K

Total Assets

$61.83M

Equity

$38.91M

Shares Out

12.74M

Op. Cash Flow

$3.78M

Business

FLEXIBLE SOLUTIONS INTERNATIONAL INC manufactures and distributes specialty chemical products, principally thermal polyaspartates (TPAs), and complementary products for water conservation and agriculture. Its main offerings include TPAs for oilfield scale/corrosion control, agricultural and irrigation applications, nitrogen conservation products, HEATSAVR® and WATERSAVR® evaporation-reduction products, and custom food and nutritional ingredients. The company operates through subsidiaries such as NanoChem Solutions Inc. (TPA manufacturing) and ENP Investments (golf, turf and ornamental products), plus consolidated real estate entities. It sells through distributors and direct commercial channels across North and South America and international markets.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Sales	39	38	38	46	34
Cost of sales	26	25	28	32	23
Gross profit	13	13	10	14	11
Gain on sale of property (Note 6)	−1	—	—	—	—
Loss on write-down of property held for sale (Note 6)	183,423	—	—	—	—
Professional fees	866,477	798,387	238,466	660,821	285,424
Research and development	615,292	329,952	158,246	99,275	116,411
Selling, general, and administrative	4	3	—	—	—
Wages, administrative salaries and benefits	4	4	3	3	2
Total operating expenses	8	8	7	7	6
Operating income	5	6	4	7	5
Income from investments (Note 9)	129,943	245,631	505,065	341,424	507,143
Impairment of investment	−1	—	—	—	—
Loss on sale of investment (Note 9)	—	−353,076	—	—	—
Loss on lease termination	—	−41,350	—	—	—
Interest expense	−613,852	−610,265	−498,666	—	—
Interest income	150,233	196,454	113,809	132,233	77,999
Total non-operating expense	−1	−562,606	120,208	—	—
Income before income tax	3	5	4	8	7
Deferred income tax expense	−155,399	−146,767	250,917	71,295	−363,317
Current income tax expense	−744,184	−704,444	−118,182	−217,151	−2
Net income	2	4	4	8	4
Net income attributable to non-controlling interests	−2	−1	−980,121	−691,625	−845,095
Net income attributable to controlling interest	786,894	3	3	7	3
Income per share (basic) (Note 13)	0.06	0.24	0.22	0.57	0.28
Income per share (diluted) (Note 13)	0.06	0.24	0.22	0.56	0.28
Weighted average number of common shares (basic)	13	12	12	12	12
Weighted average number of common shares (diluted)	14	13	12	12	13
Unrealized gain on foreign currency translations	259,099	188,160	10,653	−30,069	96,391
Total comprehensive income	3	4	4	8	4
Comprehensive income non-controlling interest	−2	−1	−980,121	−691,625	−845,095
Comprehensive income attributable to controlling interest	1	3	3	7	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	7	8	5	6	6
Term deposits (Note 2)	1	2	3	700,000	1
Accounts receivable, net (Note 4)	13	12	10	9	7
Inventories (Note 5)	11	11	11	14	10
Prepaid expenses and deposits	1	2	2	310,297	442,161
Property held for sale	425,000	—	—	—	—
Total current assets	33	35	30	31	24
Property, equipment and leaseholds, net (Note 6)	16	17	13	10	5
Right of use assets, net (Note 3)	4	—	115,293	167,222	217,267
Intangible assets (Note 7)	2	2	2	2	3
Long term deposits (Note 8)	2	167,882	824,254	8,540	8,540
Investments (Note 9)	2	3	6	5	5
Goodwill (Note 7)	3	3	3	3	3
Total Assets	62	60	55	52	40
Accounts payable	2	2	2	873,904	1
Accrued liabilities	501,175	403,157	284,131	959,856	457,062
Deferred revenue	124,944	78,655	148,292	387,763	349,004
Income taxes payable	5	5	4	4	5
Short-term lines of credit (Note 10)	2	2	2	3	2
Current portion of lease liabilities (Note 3)	299,445	—	1	58,080	77,715
Current portion of long term debt (Note 11)	396,961	2	59,520	717,612	793,574
Total current liabilities	11	12	10	10	10
Right of use liabilities, net (Note 3)	4	—	55,773	109,142	139,552
Net deferred income tax liability (Note 12)	277,417	122,019	260,047	500,459	310,162
Long term debt (Note 11)	4	7	7	5	2
Total Liabilities	19	19	17	16	12
Commitments and Contingencies (Notes 10 and 11)	—	—	—	—	—
Common stock,value	12,723	12,516	12,436	12,426	12,355
Capital in excess of par value	20	19	18	18	17
Accumulated other comprehensive loss	−347,887	−606,986	−795,146	−805,799	−775,730
Accumulated earnings	19	20	18	16	9
Total stockholders equity controlling interest	39	38	35	33	25
Non-controlling interests (Note 16)	4	3	3	3	3
Total Stockholders Equity	43	41	38	35	28
Total Liabilities and Stockholders Equity	62	60	55	52	40

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock based compensation	555,267	673,130	395,080	399,148	210,112
Depreciation and amortization	2	2	2	1	965,935
Non-cash operating lease	432,696	—	—	—	—
Income from investments	−129,943	−245,631	—	—	—
Loss on write-down of property held for sale	183,423	—	—	—	—
Gain on sale of property	−1	—	−4,589	—	—
Accounts receivable	−925,803	−2	−393,199	−2	−1
Inventories	348,558	244,694	3	−4	−1
Prepaid expenses and deposits	630,956	−416,670	−1	131,864	−139,714
Long term deposits	−2	−159,342	−815,714	—	—
Accounts payable	595,808	64,833	1	—	—
Accrued liabilities	98,018	119,026	−675,725	—	—
Income taxes payable	−75,973	652,077	−1,137	−249,628	2
Deferred revenue	46,289	−69,637	−239,471	38,759	34,727
Cash provided by operating activities	4	6	6	1	5
Maturities of term deposits	1	289,325	—	—	—
Proceeds from sale of property	4	—	5,411	—	—
Purchase of property, equipment and leaseholds	−4	−5	−5	−2	−782,219
Return of investment	500,000	—	—	—	—
Proceeds of sale of investment	—	2	—	—	—
Distributions received from equity investment	—	510,710	—	—	—
Cash provided by (used in) investing activities	890,863	−2	−5	−2	−659,539
Proceeds from short-term lines of credit, net	96,227	241,680	—	—	—
Repayment of long-term debt	−4	−2	−725,823	−2	−943,080
Proceeds from long-term debt	—	2	3	3	—
Dividends paid	−1	−1	−626,777	—	—
Distribution to non-controlling interests	−991,708	−794,722	−719,439	−689,434	−804,003
Proceeds from shares issued upon exercise of stock options	550,960	184,850	13,600	140,620	140,440
Cash used in financing activities	−6	−978,333	−379,869	848,326	−2
Effect of foreign exchange rate changes on cash	259,099	188,160	10,653	−30,069	96,391
Increase (decrease) in cash	−1	3	892,725	79,525	2
Interest paid	612,296	610,625	498,666	292,949	179,029
Recognition of operating lease liability and right of use assets	4	—	—	—	—

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